Ferretti Group grows, looks at Wally sailing brand

Group at Cannes Yachting Fair, Bassani wants to invest

(ANSA) - Cannes, September 12 - Ferretti Group said it is
interested in buying the sailing brand Wally, which belongs to
the Luca Bassani family, founders of the Bticino metalworking
company.
​ The announcement was made by Ferretti Group CEO, the
attorney Alberto Galassi, at the Cannes Yachting Fair​.
​ "It's a complicated operation, not a question of weeks, but
of months," Galassi said.
"But yes, we want to invest and grow, because we're not at
the limit of our production capacity," he said.​
​ Ferretti Group's production value was up 22% in August 2018,
at 420 million euros.
​ "And if we consider that last year's revenue was 624 million
euros, we can say that 2018 will certainly go better than 2017,"
Galassi said.
"We are investing at the speed of sound, because the nautical
market is changing. It's no longer the big fish eating the small
fish, but the fastest fish eating the slowest," he said.​
​ Ferretti Group has spent 154 million euros in investments
since 2015, with 91 million euros in research and development
alone.
"This strategy has paid off; 2018 will be the best year ever
for Ferretti," Galassi said.
"We are growing, and above all we are diversifying markets,"
he said.​
​ During the period from 2015 to 2018, Ferretti Group produced
30 new models overall, with its brands Ferretti Yachts,
Pershing, Custom Line, and Riva.
"In fact, 81% of our revenue comes from the new models,"
Galassi said.
Ferretti brought a fleet of 25 yachts to the Cannes Yachting
Fair, five of which are world premieres: ​Ferretti Yachts 670,
Custom Line Navetta 42, Custom Line 120', Riva 110' Dolcevita,
and Riva 66' Ribelle.